European markets traded mixed Monday morning, as investors digested geopolitical developments and corporate earnings.
The pan-European STOXX 600 slipped 0.2% in morning trade, with travel and leisure stocks leading the losses with a 1% drop on the back of disappointing full-year results from Ryanair. The company posted its weakest annual profit in four years and said earnings could fall further next year, as Europe’s largest budget airline battles overcapacity, Brexit and delays in delivery of the Boeing 737 Max. Shares traded 5% lower in the morning session.
Oil and gas stocks rose 0.7% in early deals as crude prices rose after an OPEC+ ministerial meeting Sunday.